The U.S. market remained closed on Friday for Independence Day. Consequently, markets remained at their record highs from Thursday which were reached after the positive NFP and Unemployment Rate figures. The S&P 500 closed 0.55% higher at 1,985.44 and the Dow Jones closed 0.54% higher at 17,068.26 (the first time the measure has ever been above 17,000). Asian markets declined at the open of the week in thin trade. The Nikkei declined 0.37%, after reaching a 5 month high last week. This came as the Yen strengthened slightly against the U.S. Dollar. The Hang Seng remained little changed and lost 0.03% with mixed movement coming from real estate and consumer stocks. European stocks have started the week lower following the biggest weekly rally since March. Currently, the CAC 40 is down 0.40% while London’s FTSE 100 is off 0.16% and Germany’s DAX is lower by 0.16%.
WTI Crude is trading choppy at a 3 week low. The decline came after reports that two ports will be reopened in Libya leading to greater supply of the commodity. Geopolitical tension is on the downside and oil supply remains unaffected with fighting being concentrated in the north of Iraq. Traders should remain up to date with any developments as any escalation can lead to an increase in the price. Gold declined last week after the positive U.S. data sparked a rally in equities. As U.S. markets were closed on Friday the commodity has seen no major moves.
Today’s Main Events:
12.30 GMT: CAD – Building Permits – measures the change in the number of new building permits issued by the government.
14.00 GMT: CAD – Ivey PMI – measures the activity level of purchasing managers in Canada.
23.50 GMT: JPY – Adjusted Current Account – measures the difference in value between exported and imported goods, services and interest payments during the reported month.
July 7, 2014 -Daily Market News
Today’s Hot Asset: USD
The U.S. market remained closed on Friday for Independence Day. Consequently, markets remained at their record highs from Thursday which were reached after the positive NFP and Unemployment Rate figures. The S&P 500 closed 0.55% higher at 1,985.44 and the Dow Jones closed 0.54% higher at 17,068.26 (the first time the measure has ever been above 17,000). Asian markets declined at the open of the week in thin trade. The Nikkei declined 0.37%, after reaching a 5 month high last week. This came as the Yen strengthened slightly against the U.S. Dollar. The Hang Seng remained little changed and lost 0.03% with mixed movement coming from real estate and consumer stocks. European stocks have started the week lower following the biggest weekly rally since March. Currently, the CAC 40 is down 0.40% while London’s FTSE 100 is off 0.16% and Germany’s DAX is lower by 0.16%.
WTI Crude is trading choppy at a 3 week low. The decline came after reports that two ports will be reopened in Libya leading to greater supply of the commodity. Geopolitical tension is on the downside and oil supply remains unaffected with fighting being concentrated in the north of Iraq. Traders should remain up to date with any developments as any escalation can lead to an increase in the price. Gold declined last week after the positive U.S. data sparked a rally in equities. As U.S. markets were closed on Friday the commodity has seen no major moves.
Today’s Main Events:
12.30 GMT: CAD – Building Permits – measures the change in the number of new building permits issued by the government.
14.00 GMT: CAD – Ivey PMI – measures the activity level of purchasing managers in Canada.
23.50 GMT: JPY – Adjusted Current Account – measures the difference in value between exported and imported goods, services and interest payments during the reported month.
Related Posts: